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Author Topic: New Fossil Banks No Thanks  (Read 104 times)

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AGelbert

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New Fossil Banks No Thanks
« on: April 02, 2022, 03:25:36 pm »


New 🦖 Fossil 😈 Banks No Thanks platform launched


BankTrack, May 17, 2021

BankTrack has launched www.fossilbanks.org, a new campaign platform that brings together
organisations and campaigns from all over the world pressuring commercial banks to stop
financing the 🦖 fossil fuel industry. The Fossil Banks No Thanks platform aims to present the
global resistance to bank financing for fossil fuels. It features a Global Call on Banks to stop
financing the fossil fuel industry, which on the launch of the website is already supported by 50
organisations from 19 countries.

Furthermore, the website on its launch already showcases 29 organisations and campaigns from
11 countries that are actively campaigning against fossil banks, a number that is expected to
grow significantly over the next few months.   

Read more:
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

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AGelbert

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Re: New Fossil Banks No Thanks
« Reply #1 on: April 02, 2022, 03:26:56 pm »


August 2021 Digest

Dear Anthony,

The publication of Part One of the IPCC’s Sixth Assessment report
at the beginning of August sends yet another clear warning ahead
of the Glasgow climate summit: we don't have another decade to
waste, and only rapid and drastic reductions in greenhouse gases in
this decade can prevent climate breakdown. The IPCC warns that
temperatures are likely to rise by more than 1.5C, bringing
widespread extreme weather. As climate catastrophes continue to
be more and more frequent in every corner of the globe, banks are,
however, far from taking the action needed to avoid climate collapse.

This month we learned Deutsche Bank, JPMorgan Chase, and
Standard Chartered participated in a massive USD 1 billion loan to
Adani Enterprises, a subsidiary of the Adani Group, which is building
what would be the biggest coal mine in Australia, the Carmichael
thermal coal project.


This project would add billions of tonnes of CO2
into the atmosphere, destroying the land and culture
of the Wangan and Jagalingou people,
increasing shipping through the Great Barrier Reef, and
opening up the Galilee Basin.


Meanwhile, the world's biggest carbon sink is crossing the tipping
point: according to scientists, the Amazon rainforest now emits
more carbon dioxide than it absorbs. And the best guardians of the
forest, Indigenous Peoples, are under serious threat. This month,
the Forests & Finance coalition warned investors about the risk and
the irreversible consequences of the anti-environment and anti-social
 legislative agenda in the Brazilian Congress in a letter sent to 80
financial institutions.

Also in this month's newsletter, bank ties to companies supporting
the military junta in Myanmar are deeper than first thought. And a
new dodgy deal on Okavango oil & gas drilling in Namibia &
Botswana, affecting a biodiverse area that is home to Africa's
largest remaining population of savanna elephants and other
threatened megafauna species.

With best wishes,

The BankTrack Team.

Read more:
Banks break promise and loan US$1 billion to Adani coal miner

Forests & Finance Coalition warns foreign investors

East African Crude Oil Pipeline: new update on risks



Central banks    still fueling climate crisis

Oil Change International, Aug 24, 2021

Central banks could play a critical role in catalyzing the rapid shift of
financial flows away from oil, fossil gas, and coal. However, to date,
central banks have instead tinkered at the edges, a new report by Oil
Change International finds. Read more...
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #2 on: April 02, 2022, 03:27:36 pm »
BankTrack

Sept 23, 2021

These 60 banks together provided over US$ 3.8 trillion to the fossil fuel industry between 2016 and 2020, with nearly US$ 1.5 trillion going to support the top 100 companies still expanding fossil fuel production and infrastructure.


🦖💰 Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit

Banks must announce concrete steps to end their support for the
coal, oil, and gas industry ahead of the Glasgow Climate Summit
(COP26)
, or bear direct responsibility for the further
escalation of the climate crisis, says an open letter sent this week
by BankTrack and partners, with backing of 210 groups globally.

The letter, sent to the CEOs of the world’s largest 60 banks, calls on
bank leaders to show personal courage and leadership in steering their
institutions away from fossil fuels.

Read more:
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #3 on: April 02, 2022, 03:28:23 pm »

October 26, 2021

😈 Equator Banks involved in 💵 financing
at least 200 🦕 fossil fuel projects

since Paris

BankTrack research sheds new light on finance for 🦖 fossil fuels
by Equator banks

SNIPPET:


[the Principles] continue to allow for finance for fossil fuel projects…
from coalfired power plants to new oil extraction and pipeline
projects


Detailed Report with Executive Summary

So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #4 on: April 02, 2022, 03:29:09 pm »
Nov 3, 2021

Federal Reserve: Defund Climate
Chaos Day of Action
     



350.org 13.7K subscribers

On October 29, thousands of activists took to the streets around the United States to call
on the Federal Reserve to use its regulatory powers and stop banks from funding
climate disasters. 350 local groups and allies visited to the Federal Reserve’s HQ,
regional, and local offices from coast to coast #FossilFreeFed.

License
Creative Commons Attribution license (reuse allowed)
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #5 on: April 02, 2022, 03:29:41 pm »
Dec 07, 2021

Senate Banking Committee O&G Donations

Energy and natural gas donations to
members of the Senate 💰🎩🍌 Banking
Committee as of December 1, 2021.

Source: OpenSecrets.org

BailoutWatch


So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #6 on: April 02, 2022, 03:30:23 pm »

December 20, 2021


😈 Banking on Climate Chaos: 🦖 Fossil Fuel Finance Report 2021 🤦‍♂️

For the 11th year running, we contributed to this flagship report on the state of bank fossil
fuel finance, which continues to be referenced in the media throughout the year. The numbers
are sobering: even in a pandemic-induced recession, fossil fuel financing was higher in
2020 than 2016, and has increased year-on-year for 🎩 those companies 😈 most
responsible
for 💰 expanding the 🦖 industry.


Full report:
Banking on Climate Chaos: Fossil Fuel Finance Report 2021
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #7 on: April 02, 2022, 03:32:27 pm »

March 1, 2022

Erika Thi Patterson Action Center on Race and the Economy
<email@acrecampaigns.org>


We're demanding these 4 banks stop funding the 🦖 fossil fuel industry

If you bank with 🦕 Chase, 🦖 Citibank, 🦕 Wells Fargo or 🦖 Bank of America, please
join thousands of other customers and sign on to the Customers for Climate Justice Open
Letter to 🎩 CEOs.

So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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March 31, 2022

📢  Banks in this digest BNP Paribas 👉 Citi 👉 Crédit Agricole 👉 Deutsche Bank 👉 ING 👉 JPMorgan 👉 Chase 👉Nordea Standard Bank 👉 UniCredit

Dear  Anthony,

Welcome to BankTrack's March news digest. Yesterday saw the publication of the 🎩🦕😈💰🦖 Banking on Climate Chaos report, which found that despite banks’ ‘Net Zero’ rhetoric, 2021 fossil fuel financing remained above 2016 levels , when the Paris Agreement was signed.



This followed another report on fossil fuel financing earlier in the month, with a focus on Africa. “Locked out of a Just Transition, published by BankTrack together with Milieudefensie, Oil Change International and 19 African partners, highlights how fossil fuel finance from European, Asian and North American financial institutions is hampering the necessary  just transition to sustainable energy in Africa.

Also this month, the Dutch bank ING announced that it would not finance any new oil and gas projects, while at the same time emphasising that it will continue to provide financing to ‘clients active in keeping oil and gas flowing’. The Nordic bank Nordea also made some progress with its latest climate policy, but still does not rule out the financing of fossil fuel projects. Unfortunately, South African Standard Bank's new climate policy does not live up to the bank’s commitment to shareholders to set goals to reduce its fossil fuel exposure, and will not stop the bank from financing the increasingly controversial East African Crude Oil Pipeline (EACOP) project.

And against the backdrop of the Russian invasion of Ukraine, BankTrack launched a letter to the CEOs of commercial banks with exposure to Russia, calling on them to suspend all Russian corporate and investment banking activities, and apply pressure to any clients to also cease Russian operations.

Meanwhile Reclaim Finance and 15 other NGOs published the 🦖 Oil and 🦕 Gas Policy Tracker , a new tool to assess the oil and gas exclusion policies of the 150 biggest financial institutions worldwide. And Fair Finance Asia's new study shows a general lack of action on gender equality and human rights among the financial institutions that actively lend to the largest agribusinesses operating in Asia.

Finally, take a look at BankTrack's 2021 Annual Report that summarises our activities to end bank financing of harmful business activities and points to our new mission to call on banks to act urgently and decisively in four interrelated global emergencies.

With best wishes,

The BankTrack Team.

« Last Edit: April 02, 2022, 04:23:17 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Re: New Fossil Banks No Thanks
« Reply #9 on: December 15, 2022, 07:02:51 pm »
BILL MCKIBBEN from The Crucial Years <billmckibben@substack.com>

Dec 14, 2022, 9:22 PM


A 🎩 Big Bank Actually Does Something Good 👍
and in the process puts serious pressure on America's 🦖rogue financiers
HSBC Bank—Europe’s biggest by total assets—announced today they would no longer provide financing for new oil and gas fields. HSBC is not a particularly virtuous enterprise—it began in Hong Kong in 1865 with an early specialty in the opium trade; earlier this year it was censured for lying about its climate change efforts in its ads; in between there’s been every flavor of scandal that big-time capitalism can produce. And even this step is far from sufficient—they’re apparently still willing to finance new infrastructure like LNG terminals. But the activists who have been pushing them for years to take this step have won the world a huge victory.

This is a fighting newsletter and the fight is so crucial it comes to you for free. But if paying the modest subscription fee would not put you in financial hardship, it would be a lovely gesture and help keep it going!

That’s mostly because the pledge sets a new baseline that we can use to make other banks sweat. Especially the four big American banks—Chase, Citi, Wells-Fargo, and Bank of America—that are also the four biggest lenders to the fossil fuel industry. They lost a lot of cover today; it’s no longer possible for them to pretend that this kind of lending is business as usual. Scientists have said continued fossil fuel expansion will break the back of the climate system; the International Energy Agency said this kind of financing had to stop in 2021 if we were to meet the Paris climate targets; and now one of the brotherhood of global megabanks has broken ranks and gone along.

We will use that win for all its worth as we pressure those rogue American banks. As many of you know, a coalition of 19 groups (and counting) has a big day of action planned for Tuesday March 21 (32123!); we’ll be inside and outside branches of those four banks across America, cutting up credit cards, sitting down in lobbies, and in general trying to make people understand that for any American with more than $125,000 in the mainstream banking system, it’s likely producing more carbon than all the actions of their daily life. We want them to cease lending for the expansion of the fossil fuel enterprise; we will be weaning ourselves off fossil fuels for some years, so normal banking arrangements are okay. But it’s truly insane to keep growing the size of the hydrocarbon empire.

The fossil fuel industry can see this threat coming; that’s why they’ve unleashed the treasurers of red states to threaten the banks with the loss of their business if they take this step. Happily, blue city and state treasurers have more money, and they’re rising to the challenge. (Read this thread from [New York City’s comptroller Brad Lander to get a sense of their rising ire). I can tell simply by the outpouring of vitriol from 👿 climate deniers on Twitter today that HSBC touched a nerve—in Elon’s new world, one gent respondeded to my sharing of an article with the news in these immortal words: “Blood is on your hands super stupid syphilletic gang **** reject.”

But the real anger is doubtless in the C-suites of those 🦖 big four American banks. I remember years ago, early in the fossil-fuel divestment campaign, when I was sitting with the president of a big college (along the Charles, and ivied). I started listing the names of the noble but small colleges that had acted on principle early on to divest, and he listened for a minute and then hissed “you haven’t gotten a single big research university.” Within the next few years Oxford, Cambridge, the University of California, the University of Michigan, Columbia and so on had divested; it was only a matter of time before that ivied institution along the Charles followed suit. That’s where the big banks find themselves today. Amalgamated Bank and Beneficial State deserve huge credit for doing the right thing, but they’re not fatcats. HSBC undeniably is. It’s got $4 billion in assets, it’s #13 in the world in fossil fuel lending. It’s in the club.

It doesn’t mean the fight will be easy—these banks are the capital in capitalism. But it means it’s possible if we push.

In other news from the world of climate and energy:

+Robert Brulle and Christian Downie have an absolutely crucial new paper showing just what vast sums the fossil fuel industry spends on lobbying and advertising. Their trade associations alone have plowed $3.4 billion into the job in recent years. As Brulle said to me this afternoon, “it is a testament to the climate movement that it’s had any successes.”

+The highly respected science journal Nature published an important commentary this week on “degrowth,” which its authors defined like this:

Quote
Wealthy economies should abandon growth of gross domestic product (GDP) as a goal, scale down destructive and unnecessary forms of production to reduce energy and material use, and focus economic activity around securing human needs and well-being. This approach, which has gained traction in recent years, can enable rapid decarbonization and stop ecological breakdown while improving social outcomes. It frees up energy and materials for low- and middle-income countries in which growth might still be needed for development. Degrowth is a purposeful strategy to stabilize economies and achieve social and ecological goals, unlike recession, which is chaotic and socially destabilizing and occurs when growth-dependent economies fail to grow.

I think it’s an inelegant name for an important set of ideas

+Kansans are trying to clean up the biggest oil spill in the hsitory of the Keystone pipeline. Thank heaven we managed to block the even larger KXL.

+The interesting breakthrough in fusion energy—which won’t bear commercial fruit for many many years—is an apt reminder that we have a large fusion reactor 93 million miles up in the air.
https://open.substack.com/pub/billmckibben/p/a-big-bank-actually-does-something
« Last Edit: December 15, 2022, 07:51:17 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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🌟 New BankTrack website
« Reply #10 on: February 28, 2023, 06:02:38 pm »
February News Digest: Global protests against EACOP • new BankTrack website

February 28, 2023

Welcome to the new BankTrack website

You might notice that things look a little different around here...

https://www.banktrack.org/
« Last Edit: February 28, 2023, 06:08:02 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

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April 11, 2023

Briefing: Japan’s Toxic Energy Strategy for Asia

Download the briefing
Translations: Japanese

Japan’s Toxic Energy Strategy for Asia: Japan’s so-called “😇 Green Transformation” is soaked in 😈🦖 fossil fuels

This briefing explains how Japan’s new “Green Transformation (GX)” policy, approved by its Cabinet in February 2023, is a greenwashing exercise designed to benefit corporate interests and prolong the use of fossil fuels at a time when renewable energy solutions are reliable, available, cleaner, and cheaper.


The strategy under GX relies heavily on 🦕 LNG; ammonia co-firing; fossil hydrogen; and carbon capture, utilization and storage. These technologies would prolong the lifespan of 🦖 fossil fuels at a time when countries need to phase them out. Japan is using its diplomatic might to promote the GX strategy at the G7 and within the Association of Southeast Asian Nations (ASEAN). The policy also aims to deploy these technologies across Asia under the guise of “decarbonization.”

However, communities and groups across Asia, including Bangladesh, Indonesia, and the Philippines, are rejecting Japan’s dirty energy strategy and are mobilizing to stop Japan from derailing the energy transition.

Japan needs to stop investing precious resources in volatile, dirty energy and unproven technologies. As Japan prepares to host the G7 summit in May 2023, it will face increasing pressure until it places clean energy and climate security above Japanese corporate interests.

Read the full briefing here.
« Last Edit: April 11, 2023, 01:35:54 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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Don’t believe the hype about “woke capitalism”
« Reply #12 on: April 27, 2023, 06:24:00 pm »

Dec 8 2022 | Washington, DC By: Ben Cushing, Sierra Club

Photo: Photo by iStock/Feodora Chiosea

Right-wing attack on sustainable finance is the latest form of climate denial

Don’t believe the hype about “woke capitalism”

SNIPPET:

Far-right politicians in the pocket of the fossil fuel industry have a new target in their sights: “ESG”—or environmental, social, and governance investing. Republicans across the country are busy brandishing their “anti-ESG” agenda and decrying the specter of “woke capitalism.”

What’s the real story behind this 😈 manufactured culture war?
Read more:
https://www.banktrack.org/blog/rightwing_attack_on_sustainable_finance_is_the_latest_form_of_climate_denial
« Last Edit: May 31, 2023, 02:41:15 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12

AGelbert

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News Digest May 2023 • JBS & Barclays • Bank AGMs • EACOP loses banks

Welcome to BankTrack's monthly digest for May. This month we learned that the amount of 💰 money paid to 🦖 oil & gas 😈🐷 shareholders in dividends since 2020 could have fully covered the investment in clean fuels needed to align with a 1.5C pathway between now and 2030. A shocking   misallocation of capital that has stoked the public anger seen at fossil fuel company AGMs this month.

May has seen the BankTrack team pay visits to the AGMs of Barclays, Standard Chartered, HSBC; Crédit Agricole and Société Générale, together with allies and often accompanied by representatives of communities affected by the damaging extractivist projects these banks keep financing. We've also tracked other AGMs attended by our partners, including those of JPMorgan, Rabobank and BNP Paribas. Check the Twitter threads in the hyperlinks for details and videos.

Also this month: A key publication from our Nature campaign together with Feedback and Mighty Earth exposes the relationship between Barclays and meat-packing giant JBS, and explores why this is a problem. Significant wins for the campaign against financing the East African Crude Oil Pipeline, which lost two key lenders in May. And pressure mounts on Austria's Raiffeisen Bank for a clean, moral exit from Russia, where the bank continues making massive profits and paying taxes to support Putin's illegal war.

See below for the details on these stories and more.
https://www.banktrack.org/banktrack_news#year=2023

The 🦕🦖 Hydrocarbon 👹 Hellspawn Fossil Fuelers DID THE Clean Energy  Inventions suppressing, Climate Trashing, human health depleting CRIME.  Since they have ALWAYS BEEN liars and conscience free crooks 🦀, they are trying to AVOID   DOING THE TIME or PAYING THE FINE! Don't let them get away with it! Pass it on! 

« Last Edit: May 31, 2023, 02:44:08 pm by AGelbert »
So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. Matthew 7:12